Christine Lagarde. Photographer: Yorgos Karahalis/Bloomberg
Traders are ramping up bets on monetary easing from the European Central Bank (ECB) next year, raising the stakes for President Christine Lagarde as she prepares for a policy meeting next week.
Earlier today, markets fully priced six quarter-point rate cuts by the ECB in 2024, a move that would take the key rate to 2.5 percent. Although bets were pared slightly later in the day, Deutsche Bank helped stoke the dovish sentiment by revising its outlook to also forecast 150 basis points (bps) of cuts.
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